Cement maker PPC, which is struggling under the weight of a debt load that rivals its R5.2bn market value, has agreed to sell its quarry business in Botswana for R60m, a further sign the group may avoid tapping shareholders.

PPC’s shares have more than doubled so far in 2021 and it has been on a winning streak of late, reaching a deal in March to restructure the problematic debt of its unit in the Democratic Republic of Congo (DRC)...

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